JEPI - Weekly Market Pulse: Looking For Workers In All The Wrong Places

• We got another disappointing employment report last week. The US economy added 559,000 jobs in May, which was below expectations and disappointing.
• There are certainly remaining supply-side issues in the economy, which is what we should expect in a recovery from a supply shock. The problem was a lack of things to spend on, not a lack of cash.
• We copied the Japanese approach to monetary policy with QE even after it failed and continues to fail there. We are nearly a decade into QE here and... it isn’t working. Now our policymakers are set to copy the Japanese again with a big infrastructure spending plan.

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